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ECB Policy Focus, SNB Cliffhanger Vote, China Stability: Eco Day

This content was published on November 18, 2020 - 06:30

(Bloomberg) -- (Bloomberg) -- Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • European Central Bank policy makers are trying to persuade investors not to focus too much on the size of their next dose of monetary stimulus, hoping they will instead look at its design
  • U.K. companies are turning to cheaper overseas labor to complete their post-Brexit customs paperwork, creating jobs in countries such as Romania and India due to a shortage of trained staff in Britain
  • The Swiss National Bank faces a cliffhanger national vote on its equity investments that could force it to sell defense company stocks worth about 19 billion francs ($21 billion).
  • U.K. Prime Minister Boris Johnson announced a 12 billion-pound ($15.9 billion) plan to boost green industries and tackle climate change, in a blueprint he says will create or support as many as 250,000 jobs
  • France’s second lockdown will push the economy back into a slump and slow the recovery in 2021
  • Chinese Premier Li Keqiang expressed confidence in the economy, highlighting its stability in a world mired in recession and grappling with a resurgence in coronavirus infections; Separately, China’s surging economy is set to overtake 56 countries in the world’s per-capita income rankings, the IMF projects
  • Germany’s auto industry secured 5 billion euros ($5.9 billion) in government aid to help weather the coronavirus crisis and invest in the transition to electric cars
  • Judy Shelton’s nomination to the Federal Reserve Board was blocked in the Senate Tuesday, a stunning setback for Senate Majority Leader Mitch McConnell and a blow to President Donald Trump’s drive to shake up the U.S. central bank before he leaves office
  • Japanese exports fell only fractionally in October, improving more than expected as shipments to the U.S. and China held up
  • It’s just suffered its biggest economic slump since the Great Depression, its border is closed and unemployment is rising, but New Zealand’s housing market is booming

©2020 Bloomberg L.P.

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